NASDAQ tests the 50 day moving average and broken trendline

Technical Analysis

Author: Greg Michalowski | nasdaq-up

50 day moving average at 14879.82

the NASDAQ index is trading up to a new session high of 14879.00. That tested the 50 day moving average just above that level at 14879.82. The underside of a broken trendline is also near that level. 

50 day moving average at 14879.82
Getting back above the 50 day moving average would be needed to tilt the bias back the upside. Staying below and the move higher is just a correction in what has been a bearish move since the peak on September 7. Since that day, the price has been down eight of 11 days. Yesterday the price did move higher.  
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